Adapting products to an ever-changing market and developing a partner ecosystem from which to expand and grow are among the qualities inherent in the 10 emerging Canadian software companies identified by IDC Canada.
The Toronto, Ont.-based research firm’s report recently identified these picks as having the potential to make an impact in the information and communications technology (ICT) market.
Having a strong customer base upon which to grow, clarity of vision, and the ability to compete on a global scale are other qualities these local companies possess.
“They are addressing the changing market dynamics and adapting their products to keep up with what’s going on in the industry, whether those are small enhancements to their technologies or significant changes to their entire platform,” said the report’s co-author Krista Collins, analyst for Canadian IT innovation and export.
IDC further identified the companies by measuring the technologies they delve in against the firm’s global forecast numbers for these technologies, said co-author Joel Martin, vice-president of IDC’s software practice.
“It’s a great example of the kind of innovation across a variety of areas that Canada should be recognized for,” Martin said.
Best practices that other companies should take away from the report, said the IDC analyst, include the importance of Canadian ICT associations in helping companies network and get access to industry events.
Such associations are a great opportunity to network with industry professionals and learn of new trends, said Chris Norris, product manager at Apparent Networks, a Vancouver-based provider of network diagnostics and analytics systems. Apparent Networks is among the 10 firms listed in IDC’s report.
“It really gets us closer to the workings and the problems people are experiencing,” said Norris.
Another company, Id